Global growth is seeing increased risks to the downside as evidenced by the latest slew of economic data from America, Europe, and Asia. The latest GDP figures released from the United States point to weaker expansion, with the latest quarterly figures revised to 2.2% from 5.0%. Across the Pacific, Japan continues to see a mixed outlook as industrial production and manufacturing benefit from a weaker Yen, helping the export economy. Domestically, the nation is suffering as consumer spending plunges more than forecast and inflation targeting means that real GDP growth is actually negative. Chinese markets returned from the Lunar New Holiday to slightly stronger manufacturing data, but the latest interest rate cuts to the lending and deposit rates indicate that the Central Bank is worried about further headwinds to growth. European markets were dominated by news flow related to the situation unfolding in Greece. Although the latest deal extension was approved by Euro Area governments, heightened deposit outflows and risks of a default to upcoming IMF repayments are causing concern that sent the Euro tumbling against peers late in the week.